Philadelphia Stock Exchange Reports Sequential Trading Volume Growth

The Philadelphia Stock Exchange (PHLX) announced today that equity options volume in January 2002 totaled 7,979,963 contracts traded, a 33% increase over December 2001 when 5,992,326 contracts traded. Trading volume for January 2002 was 25% lower over the previous January when 10,705,795 contracts traded.

Sectors index trading volume for the first month of 2002 totaled 307,869 contracts traded, a 35% increase over December 2001 when 228,056 contracts traded. Sector index options for January 2002 declined nearly 16% when compared to the previous January when 366,176 contracts traded.

PHLX currently lists options on thirteen sectors: KBW Bank Sector^SM(BKX^SM); PHLX Computer Box Maker Sector^SM (BMX^SM); PHLX Drug Sector^SM (RXS^SM); PHLX Forest and Paper Products Sector^SM (FPP^SM); PHLX Gold/Silver Sector^SM (XAU^SM); PHLX Oil Service Sector^SM (OSX^SM); PHLX OTC Prime Sector^SM (OTX^SM); PHLX Defense Sector^SM (DFX^SM); PHLX Fiber Optics Sector^SM (FOP^SM); TheStreet.com Internet Sector^SM (DOT^SM); PHLX Semiconductor Sector^SM (SOX^SM); PHLX Utility Sector^SM (UTY^SM) and PHLX Wireless Telecom Sector^SM (YLS^SM).

For the first month of 2002, equity volume reached 195,643,486 shares traded, a 12% increase over December 2001 when 174,066,267 shares traded. PHLX equity volume in January 2002 declined nearly 22% when compared to the previous January when 249,191,244 shares traded.

Volume in the customized and standardized currency options for January 2002 was 27,067 contracts traded, less than a 1 % decline over December 2001 when 27,110 contracts traded. Volume for January 2002 was 28% lower than volume over the previous January when 37,678 contracts traded.

The Philadelphia Stock Exchange was founded in 1790. The PHLX trades nearly 2,200 stocks, 1,189 equity options, 13 sectors index options and currency options. For more information about the PHLX and its products, visit www.phlx.com.